Evening Star Newspaper, October 18, 1923, Page 28

‘8 ® FINANCIAL, THE EVENING STAR, WASHINGTON, D. (., THURSDAY, OCTOBER 18, 1923, FINANCIAL - I SPLENDIDDEMAND | [ NEw york curB MARKET | (A SFREIGHT RATE|..Yonextohoat . | piut morae Lo | Roceved by Private Wire Direct to The R itinur o ne s ||| st Mekigage Hoans i ther losses oecurred today among the | with the Improvement which has ap- | A 2 Xl Icun. CIIE, i dosuies (the! ednciton’in Deared in the atock exchange Eroup E Q U l T A B L E at 6129 interest . |erude onl ontput ted in the latest ot ve = S | AT, = = More Jobs Than Men Is Win-= | wocis b gt e ““"; day or'two, ",'Cfln:.mfl-'eh;‘:o;s};"g“?fl Pennsylvania Railroad Of- Co-Operative Building ||| Secured on Improved Properties DLRING wars, panics and depressions, as - o n 2 o . o e S | ter Prospect in Many Great |owrese rioe v ama ot ok o BaF Yai*iematnds B uts| fioial Says Low Earnings - JAMES F. SHEA sands of investors have found the First Mort. : a 76 yesterday. S ncrease in both ou - 3 i H Industrial Centers. of Kentucky was off a point and ., i In’ Scptemer s compared with Prevent Such Action. 643 Louisiana Ave. N.W. gage Notes of Swartzell, Rheem & Hensey half. In Standard Oil of Indiana the | o ¢y % 8 300,- % e 1 = T R lluflunll‘unsm:m-r» unimportant. In| 000 &?fi'ux?‘?:n{':utfil:or?‘? :E:m:t:o ox?.,z i Company both safe and profitable. Of the Dispatel to The Star. line shares the strength of Cumber-|The strength of Hudecs Bnd Nee.| PHILADELPHIA, October 18— ments offered by this Company, there has not fon today that there will [time the stock was up a point day was evidently dlscounting the | ble, because of the “low earnings” ‘:",’,,t.:;.1::;_"::“:“1 I..'n,:':l:,.: 6% tO 9% Yield been the loss of one dollar of principal or in- I e I SRt = il S Sk e e ey S e R o e e bR o M S S s ind IR B TE Lt R A Sl O o e B T SRR T : ‘ - Joseph L Weller 7% 4 75 |~ FOR SALE The Established Safety BY WILLIAM F. HEFFERNAN, a point and “,\merlcun Izlnwnl)h:n = | 3 % wa points. o . NEW YORK, October 18.—Some fur- | JaBEME. 46 J00, “Wls "G mpatnetic '| In Convenient Amounts Of Our Mortgage° wbis of shipping stocks during the last = Line lost & point and a half, and |the ocean carrying trade well as in pcriods of prosperity’ thous | August. The September production ¢ 3. ¢ LE. S o weakness S fit w: 22,200, against $20,000. | By the Assoc - i thousan IS BY J. C. ROYLE view of the weakness in other pipe|profit was $ ¥ the Assoclated Press, Profit By the Opportunity - ds of first mortgage real estate invest N YORK, October 18, land Pipe w rather notable, At one|ferred on Wednesday and again to- | Frelght rate reductlons are imposs to Save Whether or not 51 is the immediate | September report showing a gross |raliroads, A. J. County, vice e R e ey terest to a single investor. more jobs open in the | W L S 3 ye s \bjective of the camprign in Park | of $944,658, agalnst $888,157 last year |dent of the Pennsylvania opportunitics tha < nte tustrial and mMAnufacturing s Tilford, the rise in the stock was and a surplus atter Cs‘ll'gi‘giu";t‘l“d;Edfl-larud last night I an address be- Tt o T ey ve preweatid Pittsburgh, Cleveland |again checked at this figure today.!ing full interest on the adjustment|fore the Philadelphia Banker ic Utilities - > . © men i want them, | Cuba Company at 347 was up nearly bonds of $108,991, against $66,193. | soclation. If reductions are given to Subseription for the Bonds, Public Ut Stocks These Notes are available in denominations S e | help one class, he sald, they must be ¢ 2 S “’; ::‘ :::vmr NEW TORK, October 18 —Follow. 1 Pennock 0! 1 vald by the rest of the nation | 85th Issue of Stock || Monthly Payments if Desired of $100 to $100,000, and may be purchased ul o NE ORK, Octol —] = A 3 r Although Mr. County did not men- | H i ing om- | g fs an ofiélal st of bonds and | 3 G Citepn g Her 30 80 B t1on the conferénce of President Cool: s "';;;6;"’;1 Write for Beoklet \ either for cash or through our plan of SYSTEM - stocks’ traded in on the 2 o i ge and Samuel Rea. president of hare: f A . 5 J B i ‘urb Market today: 2 A the Pennavlvania railroad, at which S er Month “Serving a Nation” SAVING. the schools— BONDS, 5 8 = Mr. Coolidge was reported to have | e e e | 2 i 215, Tl e O TS Tk T Sicested inat carrving charges tor ||| EQUITABLE BUILDING Thos. W. Brahany & C . ir., director of at-| 3 3 v y | INDOBTRIALS. export wheat be reduced, his remarks 915 F St. N.W. 0s. V. brahany & Lo. Our Officers Will Be Glad tendance at the Pittsburgh schools, i N Am Hawaiian & 8 15 5 |wera construed by some as bearing . LW, . pdance at th sburgh & ay Roll i i L On {hé conterence: IR Y DS Ereil 510-11 Evans Building To Confer With You sulnmied up the situation in o dispateh | ] ‘ X 4 4 Bridgep Mach w i. 10~ 1 1 “Sound troad credit” Mr || FRANK P. REESIDE. Seecy. reeeived by the writer tod: £ daglo Am 011 Fis. . § Davam mb S B 3 § Cebtx waiy corouoe Be regarded as i Main 6189 i A of De B ¥ 0 Rey v 0 e wel B! b= St e 7 A% (oot be 813 A Bt A Tob ully restored until the well estal 1 . As 8 ¥ Sty |lished raflroads can sell their com- 1. Hegs nioast \of egmatrastion s Fom e o ol mor xtoeks At par. and o do ‘that | wartzell, Rheem & Hensey Co., } sl !ln”n{ldn ad ln‘ Il'\'nflr‘\'l\ ania, Ohlo o | Checker Cab M under existing interest rates and nd Michigan aud h r s “hie Ko 5 . Chie Nip new w 1. 38 g costs, they should be able to pay ands of dollars’ wo road wor K0 : 3 Candy Prod - # /| close to 7 per cent dividends and have 727 15th Street N.W. . u'h\\.,k; 3 ‘h( e k' o “. o ) 8 R 8 - 5 | margin of additional surplus.” m - nd of wor which w 4 * The £ hac o zhe! i feina Tk, 3 Gol Graph R pa cfe | : g Th drawback (o higher 54 Years Without Loss to an Investor = | prices Cons Textiles Ra pric Detrolt Clts Gas s speaker d Detrolt_Edison 65 Coul. o - : Y C t " e n Te Durant Mot of Ind. H = iy | S e B B T : ou Can’t Bequea r with 5 y 4 Gillette 8 R. H A ts De-{ A 1 Alden Coni ! 12 T i i —to those you predecease the busi- . 30 ness ability which helped you build the oth K C Pow Lt ' b | Hayden oy 4 ; . : - « manufacturing f ot e : | M E 1| 4| i up an estate. to operate with undimin-| 3 72 udson 1] G e e (e Aot s s Tadr to ATk yEisaRyEub sy Pomt omt H'iman Crp new w1 39% 3ui N Executor or Trustee under your will you Have You Examined the Contents he elimination of seasozal variation Qhlo Fower be : Intt Concrete Iodus 1043 D can secure to vour dependents the ad- the automobile industry. Employ- Pib et Eree ] 5 Mudvale It vantages of experienced and specialized = < cti e O Setver et Cle 1043 1 X T TE Co pia “" 3 10 L : { service in settling and managing estates. 0f Your Safe DePOSIt e olvey et Cle i a Bark & Titord : 5 . #arConferonce wtih Our Trust Dept. on this Box Recently? Junuary 1 there will be an| 8 ) Radio Corp 3 point is invited, without obligation. - Yz employment in the auto-f 38 e x| Tadly Corp pf 4 = - iz italieti nts until April, with the . ; S 10818 Read Cosl rts 3 & e a5 N cont | £ g h i}:‘%’:}“-’.‘,,:,fi g a d Money to Loan | Our Savings Dept. Pays 3%, Compound Interest If not, look them over— . 5 xceeds Supply. it Ol po n Singer_Mfg. 1 1 o ° demand for unskilled labor in A 2 Todd ship © 0 Rengs abie o s o Possibly “you'll be surprised” to learn that you have tsbureh district far ds the TOBKIN RO, | OSet Candy v Trade Acceptances, | Jost some money in one or more of the following. ways: supply. Emplo chnctments obf A e W ] 1UBMetcme : byl oo AN ' 15t Failuré'to have cashed in some “called” bonds and cou- ste eity of labor Rig Short-Term First d Seco: i ivi pons which you did not present for payment when due, e MINTN i B L Capital, Surplus & Undivided Profits Over $1,700,000 thus causing foss of interest to you, v 5 0 U'N of Mexico 4¢.... 8 3% | Ariz Globe Cop.... . i 3 4 . 0 sthios e eonet: e |5 oSt G it B ¢ ; 15th St., Opposite U. S. Treasury—109 Years Old 21 You may discover a “monument to your folly” in the 2 hela by experierced inen, o i e IS .+ || American Finance Corporation <hape of valueless stocks which you bought thought- : to 60 conta an hour. The : O .. 1% 1 Candclaria Min 7 AT @t Commerclal National Bank Bidg. || lessly or upon a rosy promise of abnormal returns 1ty is found in the build- 5 # 5 g | il 8 - e —— - i A semi-sentimental attachment to certain secur ougch to 5 uwn K bt which do not properly compensate you for investms Tore coi mea e | ! . ARNOLD AND COMPANY therein and which should be sold and re-invested at In the Cle here h - % es . H INCORPORATED. . once. heen « slight curtailme , Laal ; 10 Gordiena develop ; | Capi FIRST MORTGAGE NOTE the steel, Tumber, printing and ¢ RO new. 4% 50 008 Jocp Mines 0 pital, 51,900, 9 S Now, permit us to advise that you profit immediately by Wement In wutom Emine 0 & O e iven Mowiter o 2 Real Estate this “exhibit” and rearrange your investments by pur ‘thing manufacture an Slath peun Ot D Hemmell Min . Sos 1 First Mortgage ¥ chasing _some of our FIRST MORTGAGE NOTES = “ousand 3 e o | 2 Holieer i I 8 OR SALE paying 6vi%, and secured by first liens upon W. : ousands 2 2 = nvestments i S do Ington real estate of proven value where each loan is 19 Tndemengence” . | 1416 Eye Street NW. IN DENOMINATIONS OF absolutely safe from loss or depreciation. Do not per- o Motal Prod. % 2434 mit this matter to leave your mind until you have madc s S | a thorough investigation. I Pl gt st = : 500 DOLLARS AND UPWARDS R eTn B - : D Just Phone Our nto Copper. every line. WOy s Cit Sery Ll poke 20 Randstorm Kenda! w s MORTGAGE DEPARTMENT Sopper N 100 ilv King iy Mines . ekt | i Sirn e - For Full Details zaged hy t Tonopah Cash Hoy.. . 4 3 3 Fafroad GHODPEEWL 3% Touopah ftteniin. T First Mortgage Note | il o] ohy res Mex Panuco . et 3 orn_ Mine...... . 3 Hi thought what advantage you ¥ e orth of work Mowot “Prod o i Tono Jim Butl o s JIEe e e e etea “sectritiear " | 4207 “Oonnectecad nee 713 14th St. N.W. Started last spring. e hoth | o1 Mntusl 0N Vot ;) Tel Bullion . E K : ‘Can'you invest other than In morteage S - skill nekilled w New Brad Oil ! Uniteq ten whers you are absolutely mecured Main 2345 Pt i S s S & i : : ! Tnst lows of Drincipal o {nterest snd S e O ieeis - - ] . SCeive vour tncome or. the daie Gue? No ¢ 8 3 : 3 r . : Where fn the favestment an such & being the ron ¢ , another the Fern Sheaver ot 50 Ttah ....... B0 Safe and satisfactory record been mi through the 30 . B R We, like many others dealing in nd the third | Firnt Mortzages, boast of the en-| lines near Nogales, H wviable record of mever 1 of & ® Washington Stock Exchange.| cANAL TRAFFIC CUT. IS acuny ia etthur pringipar o There have been n decreases in o Interest. wages on the coast, and building AL, ol s ¢ Notes now oo hand o smounts of operations this winter will empley | Washiogton Rwy. & Eiec. 45—$1,000 at 70 NORFOLK. Va., October 18.—Owing || $100 Up to $5,000 i A all the lubor available. Factorles ars 31000 at'10%. = 0o 4 0 g0 | to'the drought, which has lowered the || o 2000 NP U0 SONL In_ the market o hunds, and mans | L | sater level of Luko Drummond, feed- | 1o ‘Dot M. 38" = O . . it oy coten dest . < t Tel. of V&. S&—lcr for the Dismal Swamp canal, the || U Rl T Spurtli st | e v 7o cr for e Diemu Swamp “ennat, 02 | “CEYAS, "D, SAGER || epublic o mlan markets. Winter road building will e ugton Ry, & E ple c_‘a'yx in the week, according to offit 924 14th St. N.W. i . » over $8,000,000 in Califor- ikton Gas Light—8 at 48% cial notice. Tone Norin Capital Bank—10 at 226, 5 at 226, 10 118 - ) Fienty of Work in Weat mn‘swu:xyk.n: Tm:c«.—lo at 305, 6‘; Extel llal Loan Slllklllg F“nd Gold Bonds Unemployment is a forgotten 803, 3 { pi\; e ool e diiey aitnodan i€ (21 0 . 2 NON-REDEEMABLE EXCEPT FOR SINKING FUND as the weather curtails outdoor work. v To counteract this, however, there is| ¢ $2,000 at 94, $500 at 94. 2 heavy demand for unskilled labor . & Biec, pfd—10 at T0%. in the orchards and on the farms. In| M o industrics, especially logging 1 s FIRM FOUNDATION FINLAND THE ISSVE e | Dated September 1, 1023 u the bullding trades will con- | Bid and Asked Prices. Total national debt, June 30, nted September 1, ; i Se; ‘hon in denomination of $1,00 K o 3 CTILTY 1 Intercst payable March 1 and September 1. Coupon b : on of $1.0 low ployme G R 5 i rta: 108,319,500, only gl ble Incipal only. Principal and interest payable in New o e i e e B : SE investment has played an important part 3:75‘.18'5 pesr ol,::fi!l- ] i gt g Brinela o Frinciotl and Jnegast MY Sulent an gne. BERate e i Dutack ming | Amorican Tel, & Telga, 445 ess s ational City Bank of New York, fiscal agent, without de- mountain west. Rullding 1n boomine | American Tel: & Telga, 43s-..0 4 in the career of every successful man. A ) nessat the National City Bank of New York, fscal uegnl; e L L e L ; = portion of your earnings placed in a safe and prof- Government owned proper- | et "as i Vinte or peace, irreapective of the mationmity o he Burlington road is completing its | Anacost o < 3 = ] million-doliar shops. Lumber vards|Asicoptis§ foiomes 208 o itable investment, will form a sound foundation ties, mostly revenue produls 4nd planing mills are running full |G- & E- Tel 3o ; cluding 93% of rail- - - P, Telephone of 4 - > ing in ] Ulast, Demand for mining machiners | Gyt Traction 8- B for success and financial {ndependence. way mileage of the country, Sinking fund sufficient to redeem entire issue during final 20 years and structural iron and steel is keep- | Oty apd Suburban 5 5 Ine JToundrles, machine sHops and|Ceerssiomn dmix at $540,000,000 Finland agrees to redeem the entire Loan through a cumulative sinking f the second year of the Loen, to y:\t(»',]'yfl‘ ~!..,;.s‘ lruuy ;mcupleq Cities g:lt“r;r:;mh_-‘: Biu“é;.b 156 Phormg. of the tomat - tunmel | T 5 : L MITH SAFEGUARDED FIRST MORTGAGE Profits from Government | huad begming ol o i 110 end imsereat, o7 i s o o i pn [ mtomas ier. So 16 BONDS are a good investment for your funds, i owned forests have alone | o are mor obtainable at or below that price, for redemption of Bonds A A S D S T b L averaged $1,250,000 annually | by lot semi-annually at 100. and sugar factories. ! . ecau during the past eleven Yel;'i | ———— ; Vashiogtor ;. a0 tal revenues for . 4 s SELLING IS HEAVY Waan fiws. & Erec * g0 - Zxoceeded all expenditures, These Bonds are the direct obligations of the Republic of Finland, e ‘ i b B i i if, 1 f it shall sell, offer for public subcrip- 2 o including substantial sums | which agrees that if, in the future, it sha \ IN COTTON MARKET| C ):ml,:m,\ iy ‘I fIHEN S s ec It ize o)« H invested in productive as- tion or in any manner dispose of any bonds or loan secured by lien on ks Heaity 5o (lone) - on improved income- g s sets. any revenue or asset of the Republic, the service of this loan shall be itiged Reaity S (lone): P e atoraxe & Baf secured equally and ratably with such bonds or loan. . & sate producing property n " . o 9 Prices Nervous and Unsteady, as|¥ ;[-“!fiil'?,r:fi" Storage 2 3 s ¢ Ratio debt service, including | 2 A 2 1 e in & locality- of [ interest and amort,’intion for According to a statement by the Minister of Finance, the proceeds of Many Traders Decide to STOCKS. 2y Ak : 2 g i ilized by the Government for productive capital . proven demand. i period 1917-21, only 13.77 this loan will be utilized by the Gover ar.p) : Take Profits. sl E 23 4 of n‘:‘t‘linlry re'venqu. s expenditures. The 1924 budget calls for appropriations apprpxxm;\tely kT attion. o . L Ioww They pay 6% and 7 | equal to $16,500,000, to be expended on public works, including exten- T . 2" q 7 - Area greater than Norway, sions to the Government railroads, harbor improvements, and hydro- Assoctated Press. Norfolk_& Wash. . 3 : N '\" ;“:KK'%‘:““’” 18 —Sthe tat g .fi 3 pericent siterest. | four-fifths of Sweden and electric developments. It is stated that where materials are purchased Wash. Rw: T - . - e . e ton market was nervous and unsteady | Terminal 115 = about eight times Denmark. tside of Finland, preference will be given American manufactures, if during today's ecarly trading. Liver- (LT‘hey are further } R Population greater than ggtainable on equal }:erms. pool was better than due and very| ] Norway and almost equal to _ . . unsettled weather conditions were | 3R pa safeguarded by our . 5 ! Denm)ly'k. o The éredit of Finland has long been established in the financial centers TOppEtediin the aoutl putidicns foe S record of half a g o] of Europe, and during the twenty-five years preceding 1914, Finland District tures se: d to be offset by a dis- [, o S ° A i B s or, 14,9 e position to take profits on cmmnumllf."',‘.f‘,'.'\‘.'Am T century of uninter Exports, chiefly raw mate- borrowed abroad at coupon-rates ranging from 3% to 4}2%, approx Complainty frointiis wuodx trude: andi Ly 2 i rupted safety. rials in universal demand, imately the same rates at which Sweden, Denmark and Norway bor- less favorable view of European | Lincol . ¢ ; el <4 alftioal * Conaitions: © The' murict | Kt i exceeded imports by $10,- rowed during the same period. The 474% Sterling Loan of Finland pened irregular at a decline of one | RIKES e BUILDING i . 700 i A i i X basis and sold in London olnt to an advance of twenty points, | ¥l funk of k RMTTH. 675,700 in the year 1922. was offered in London in 1909 on a 4.90% 3 2 o . . a2, .64% basis. Feeomer Droke to 1885 under reatn: Call, Write, or Phons Finland is the only Euro- s sl s . d 4 H pean country (except Great | = ing and southern selling. o Security & Trust. Fenvy Selling Atter Opentng. | Continental Tt Main 6464 Britain) that has reached Sew han NEW ORLS October 18.—A Bis do/Stv sk S adn) - = Application will be made to list these Bonds on the New York Stock Exchange much higher Liverpool market than i For Full Informat funding agreement to cover 2 K izsucd and ineliby uss subicct it il due put the price of cotton 15 to 3 < 2 debt incurred to the United Weloffer, these bonds i, as and when issucd and vecewed by ws, sbject fo approool 1§ points up on the opening today, o PR is expected ®n or about November 1, 1923. but heavy llquidation from the long BAYEEED BANE, States Government .during of counsel. Delivery in temporary form is exp <ide met the rise and a swift reaction | Commerce and Savings o the war, the first payment " - - resulted. At the end of the first half | East Waehington..... . ’ 90 and Interest, to yleld 6.89% bour of business prices were 4 to|Security Sav. & Com. Bank. having already been made. Price 4 Street. £ 11 points under the close of yester- |Seventh Sireet day. December, after trading up to | yassington Mechenics. ' 5 F 2563, fell off to 28.35. Prospects of | "ok . . “léaring weather in the belt seemed RN ISURSNCE. 10 cause some of the selling. American Corcoran. Nom Cotton Prices. e > . o Dill NEW YORK, Ooctober 18.—Cotton {Natioasl Unfe FIRST MORTGAGE INVESTMENTS '['he Nahmal Clty Compa_ny - on, Read & Co. tutures, 11:45 a.m.—Bids steady; Oc- TITLE INSURANCE. MFTEENTH ST. i ober, 29.36; December, 28.89; Janu-' . cuia Titte, BETH PULLDENG #83 ; ry, 28.35: March, 28.47. Hoal Estate Titie. £ . NEW ORLBANS, October 18.—Cot- | s— S . % MISCELLANEOUS. tober, 2861 December, 25.44; Janu- The information contained herein has been ob tobery 3634} December, 384T 1 % from other sources which we consider reliable. , 28. . 28.30; May, 28. olymbs = statistics relate to years subsequent to 1914, ey —_— — Merd ¢ ———————————————————————— Jars at the rate of three cents to the Finmark, unless otherwise stated T BUTTER LOWER TODAY. 3ergenthaler Linotype. NO LOSS TO_ANY INVESTOR IN 50 YEARS are expressed 'n terms of United States gold dollars at par of exc ] & i —— e ———————eee ined, partly by cable, from official statements and statistics and e hot suasantee but belleve it to be correct. In so far as Finnish Marks are expressed in terms of United States gold dol- In every other case foreign currencies unless otherwise stated. 0ld Dutch Market com. CHICAGO, October 18. 01d Dutch Market pfe Lower; creamery extras, 47 Eennsty “Somze.. ; extra firsts, 40adé: Washington Market, ds, ¢1a41 Wgrrs—T0 ¢ L .